The Best Home Improvements that Increase the Value of Your Home
If you plan to sell your house or consider it soon, you might want to make a few improvements to maximize your sale price. However, it can be slightly tricky to figure out what areas of your property will get the biggest bang for your buck. So, to help you on your journey to boost your home's value, here are some useful suggestions.
Upgrade the kitchen.
The kitchen is one of the first things people look at when searching for a home. They often prefer modern and upgraded kitchens with the latest countertops and tiles. An updated kitchen will add massive value to your property while making it easier to sell. If you don't have a huge budget, consider a kitchen reface. This means you replace cabinet doors, update countertops, and bring in new appliances, but you aren't gutting the entire space. These kinds of renovation can have an incredible return on investments.
Boosting the bathroom will increase the house's value, as it’s the second-most looked at space in online searches. However, remember not to go too overboard. It may sound tempting to redo the bathroom from scratch, but this probably won’t give you the return you’re looking for. Instead, consider more minor updates such as regrouting or painting your tile, adding a contemporary mirror, updating lights, and swapping out your tap fixtures. These small changes can transform your bathroom without a huge budget.
Add an outdoor living area.
Although it may seem rustic, something as simple as a deck or patio can do wonders for a property’s value. Their installation is usually straightforward and doesn’t impact the interior living space. Buyers love to envision themselves sitting outside and entertaining, which is why these spaces can have such a dramatic impact. The best part? Depending on how extravagant you go, they tend not to be too pricey. Just be sure to pick the right design to match your home.
Finish your basement.
This is all about adding square footage to your home. If you have an unfinished basement, you have tons of potential. Whether buyers look at it as a space for entertaining, family room, game room, gym, or just storage, they will see value in a finished basement. You can remodel the whole space and add some décor to really blow buyers' minds. Adding square footage to your home typically has huge payoffs.
Add a fresh coat of paint.
Curb-side appeal is a significant factor in the home buying process, and you would be amazed by what a quick coat of paint can do to add new life to a home. Remember that first impressions count, and your property's exterior is crucial to sale success.
Don't forget the inside. If your home's interior colours show signs of age or just general wear and tear, consider painting them a clean, neutral colour. Most buyers prefer neutral colours because they make it easier to envision their possessions and lives in the space. It may surprise you, but a fresh coat of paint can have one of the biggest return on investment compared to any other renovation.
Finding the right improvements for your home isn't necessarily easy. Each home is different, and it can be helpful to consult a professional to understand what changes will have the most significant sale price impact. If you're considering selling your property but want to know what changes you can make to ensure the highest selling price, get in touch with a member of the Suzy Goldstein Team.
We are highly experienced real estate professionals who have a keen eye for homes and an understanding of buyer preferences. We can help give you an idea of where your home will benefit most from renovations or if they are even needed at all.